The search to identify new talent and the next great applications on Facebook Platform is well under way! Thanks to everyone who submitted by the August 29th deadline. Round 1 is now closed with over 600 applications. That's several hundred videos, several hundred business plans and over 600 entrepreneurs creating the next generation of Facebook applications… all in less than four weeks!

Our team has been busy reviewing each submission and we're amazed and excited by what we've seen. We're blown away by the remarkable amount of creativity, dedication and hard work put into each application. The competition is intense!

Our team has put in countless hours over the weekend and past week reading business plans, watching elevator pitches, and trying out your applications. (We've had some good laughs as well, so thanks to all of you who added a little humor to your pitches!)

To learn more about the fbFund competition, you can fan the fbFund Page or visit the website. We look forward to announcing the winners very soon!

In the meantime, we encourage you to search, share, and enjoy many of the publicly available fbFund elevator pitches. We leave you with a few: